Like Mark showed its a numbers game. A couple keys I would share are to develop a system that you can use to identify niche industries quickly that meet your criteria (so that you can keep your dealflow churning) and also keep improving and tailoring your outreach to owners. Most of the emails sent from searchers, brokers, intermediaries, etc. is fairly generic, full of jargon and they receive multiple a week. By differentiating yourself and creating some interest you can greatly increase conversion to having a discussion about an exit.

Thank you Reagan, nice idea about making a message differentiated and thus to influence conversion rate of the funnel.

I am looking for ideas on setting up search process to make it faster and more efficient. The percentage of those who don't find a company is very big. I would assume that many also buy wrong targets, just because the time is running off and they are under pressure to buy at least something. I am thinking how to set up the process, to minimise this risks.